SEBI UPDATE

SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2016 

SEBI has made amendment in SEBI (Foreign Portfolio Investors) Regulations, 2014 whereby in regulation 22, for the sub-regulation (2), the following shall be substituted:

“(2) A foreign portfolio investor shall ensure that any transfer of offshore derivative instruments issued by or on behalf of it, is made subject to the following conditions:

(a) such offshore derivative instruments are transferred to persons subject to fulfilment of sub-regulation (1); and

(b) prior consent of the foreign portfolio investor is obtained for such transfer,except when the persons to whom the offshore derivative instruments are to be transferred to are pre-approved by the foreign portfolio investor.”

These regulations may be called the Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2016.

They shall come into force on the date of their publication in the Official Gazette.